The blockchain revolution is almost kept afloat by start-ups and companies with new and innovative ideas. Few however enter the business world with ambitions as high as SelfPay, Asia. According to The Next Web, SelfPay is very much intent on a future where cryptocurrency can be taken as a standard payment option, anytime, anywhere for anything. They believe they have the ideas and the product to make this happen.
Of course, this idea of normalised cryptocurrency payments, anywhere is the premise of adoption and thus, in order for cryptocurrency to be adopted by the mainstream it needs to become a normal and viable payment option. Many believe that in order to achieve this, the issue of volatility needs to be addressed and that overall, the technology needs to be simplified, as, ultimately, until people actually understand it, they aren’t going to want to use it.
SelfPay is a point of sale system that has been built to accept all types of credit and debit card, internationally. The point of sale system designed by SelfPay will use a native token (SxP) that will act as the bridge between cryptocurrency and FIAT currency, within this, SelfPay hope to produce a habit-forming product in the sense that within SelfPay, customers won’t need to change any behaviours or habits in order to pay with cryptocurrency. Instead, all’s they do as the checkout, is pay with a credit or debit card and the intelligent SelfPay system does the rest. This simplicity could very well be the key to cryptocurrency adoption.
According to The Next Web:
“SelfPay is built with a modular architecture that allows payment gateways to be swapped in and out in a seamless fashion. This allows the user to select their preferred payment gateway depending on their business context and the country their business is targeting. The modularity allows SelfPay customers to adapt their payment gateway to a more favorable one as their business grows or shifts.”
“Notably, the simple fact that SelfPay accepts credit cards and local debit cards, as opposed to just focusing on cryptocurrency alone, means that it is offering a market size worth hundreds of billions of dollars.”
You can see the full report by The Next Web here- https://thenextweb.com/cryptocurrency/2018/06/12/selfpay-asia/
Moreover, you can also find out more about SelfPay, here- https://ico.selfpay.asia/
The project is now setting up for an ICO phase, but, once funding has been raised, SelfPay aim to inject themselves into the mainstream and appear as a real contender in the race that will eventually see some blockchain brands pull cryptocurrency adoption into the mainstream. Who knows, one day soon enough you might be paying for your shopping on a SelfPay terminal.